In August 2020, Toronto-based TD Bank Group announced its intention to become a leader in sustainability by helping other businesses finance their own transitions to a low-carbon economy. This decision followed its 2008 commitment to become carbon neutral, which resulted in an asset portfolio that included 100 LEED-certified locations as well as two branches and an administrative building that require zero net energy. Now, TD plans to dedicate $100 billion to lending and financing low-carbon projects, internal asset management, and corporate programs to support these efforts.
A minor history of technology could be written from a study of what amenities hotel signs used to boast about. Signs used to brag about having “air conditioning”, “color TV”, “HBO”, “Internet access”, etc. You may still see some of those around the country but they seem old-fashioned and out of place. Why? Because with all of these things, the novel became the day-to-day. Ubiquity transformed once-rare amenities turned into expectation.
The travel industry lost an estimated $880 billion during 2020 due to the global pandemic, causing dramatic effects throughout the hospitality industry. Hotel occupancy rates in the U.S. reflect this; falling to 38% in 2020, down from 66% in 2019. Yet this crisis also helped drive digital transformation in the industry to meet new demands, such as contactless check-in. In a very real sense, the pandemic has forced the hospitality industry to evolve.
Commercial property managers have a lot to deal with. They are constantly working to find and sustain tenants, adapt to changing market demands, and adjust to new occupants. Balancing these needs with the needs of the building itself can be a challenge.
As a building owner, it’s prudent to evaluate your building management system (BMS) data to determine how efficiently your building performs over time compared to industry standards. This benchmarking can reveal important information, like that your energy consumption is higher than similar buildings. But simply knowing that your energy is unusually high doesn’t mean you have a clear path to reducing your energy bills or improving equipment performance.
Whether you manage all aspects of your facilities or contract out maintenance and integration services, a fluid operation is essential to the success of commercial properties. This means attending to multiple, evolving, and, often, competing priorities—and compromised productivity can quickly have a negative impact.